Q. Which of the following prominent cases are related to Retrospective Taxation?
1. Cairn Energy Plc case
2. Vodafone India case
3. Devas Multimedia case
Select the correct option from the code given below

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: A
  • Retrospective taxation cases involving Cairn and Vodafone. In both these cases, India has lost arbitration cases internationally, that too in unanimous verdicts. 
  • Devas Multimedia, which has won a case against Antrix Corporation (a subsidiary of the Indian Space Research Organisation) for arbitrary cancellation of a contract. As Devas subsequently argued in a US court, nine arbitrators and three international tribunals had deemed the termination of the Devas-Antrix deal as unlawful. The sums involved in each of these cases run to more than a billion dollars. 

SourceBusiness Standard